Short Interest in Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) Rises By 11.8%

Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 53,200 shares, a growth of 11.8% from the December 15th total of 47,600 shares. Based on an average trading volume of 75,100 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Ares Dynamic Credit Allocation Fund

A number of large investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Ares Dynamic Credit Allocation Fund in the 2nd quarter worth $150,000. Worth Asset Management LLC purchased a new stake in Ares Dynamic Credit Allocation Fund in the third quarter worth about $172,000. Cornerstone Advisors LLC purchased a new stake in Ares Dynamic Credit Allocation Fund in the third quarter worth about $261,000. Janney Montgomery Scott LLC raised its stake in shares of Ares Dynamic Credit Allocation Fund by 98.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,367 shares of the company’s stock worth $323,000 after buying an additional 10,589 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Ares Dynamic Credit Allocation Fund during the 2nd quarter valued at about $357,000.

Ares Dynamic Credit Allocation Fund Trading Up 0.5 %

NYSE:ARDC traded up $0.07 during trading hours on Monday, reaching $15.21. The company had a trading volume of 85,483 shares, compared to its average volume of 82,708. The firm’s 50 day moving average price is $15.20 and its 200-day moving average price is $15.17. Ares Dynamic Credit Allocation Fund has a 52 week low of $13.36 and a 52 week high of $15.62.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be issued a $0.1175 dividend. This represents a $1.41 annualized dividend and a dividend yield of 9.27%. The ex-dividend date of this dividend is Tuesday, January 21st.

Ares Dynamic Credit Allocation Fund Company Profile

Ares Dynamic Credit Allocation Fund, Inc is a closed-ended fixed income fund launched by Ares Management LLC. The fund is managed by Ares Capital Management II LLC. It primarily invests in the U.S. securities and companies. The fund primarily invests in debt instruments such as senior loans made primarily to companies whose debt is rated below investment grade, corporate bonds that are primarily high yield issues rated below investment grade, equity securities of CLOs and debt securities issued by CLOs, and other fixed-income instruments.